I think the market is under estimating the resilience and attitudes of humans....
In 6-12 months time when much of the developed world is vaccinated, you watch people - particularly younger generations travel. They just don't care and live with the "it won't happen to me mantra"
Further to this, flights, accommodation and all manner of incentives will be on the table for people to travel and holiday.... Hotels, Resorts etc. the world over have no alternative than to try and get people back into them to survive....
I feel the next 2-3 years we will see a great period of travel and adventure for millions of people the world over - people have been locked down and restricted for too long...
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